South Korea’s industry minister has urged Chinese authorities to conduct a fair antitrust probe into two Korean chipmakers, as regulators are reportedly looking into their alleged price fixing, Yonhap news agency reports, citing Paik Un-gyu, South Korean minister of trade, industry and energy. The Minister made this request during a meeting with China’s Commerce Minister Zhong Shan in Beijing in which they discussed ways to expand economic cooperation and investment between the two countries.
At this meeting, Paik asked the Chinese government to “pay keen attention and provide support for Korean companies to receive fair and reasonable treatment” in regard to the memory chip price investigation, the ministry said. Zhong promised to fairly handle the matter in consultation with related agencies.
China’s antitrust agency has started an investigation into South Korea’s Samsung Electronics and SK Hynix, as well as US-based Micron Technology amid a continued rally in memory chip prices. The three companies together control more than 90 % of the global DRAM market.
The Chinese government has not formally announced what they are investigating. However, industry sources claim the probe seeks to reduce prices of memory chips and pressuring the US amid trade disputes.
Full Content: The Korea Bizwire
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
